Arizona apartment firm grows in Atlanta

After buying several apartment buildings in metro Atlanta, Scottsdale, Ariz.-based Professional Equity Management (PEM), has opened a regional office in Midtown at 730 Peachtree Street in Midtown to manage them.

And the firm is actively hiring. Net, the firm will add about 100 jobs to the metro Atlanta economy, said Sharon Cauthen, PEM’s vice president in the Southeast.

The company has about 1,400 apartment units in metro Atlanta of its 7,000 nationwide, Cauthen said, after buying complexes such as Falcon Ridge Apartments in Decatur and Meadowbrook Manor in Lilburn.

The company specializes in buying distressed apartments and improving them, and managing complexes owned by third parties.

“The current economic climate made it a favorable opportunity to acquire apartment complexes at reasonable prices,” Cauthen said.

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Rachel Tobin

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